Perfection of Rebirth

Chapter 877 Goldman Sachs Island Country
Goldman Sachs, as the first batch of American-funded companies to enter the island country's financial market, has its own building in the central district of Tokyo, which is also very rare in Tokyo, where land is very expensive.

"Mr. Jiang, this is Bilson, the president of Goldman Sachs Island. President Bilson, this is Jiang Hui, the general manager of our Guanghui Group."

Although Jiang Hui and his party arrived at Goldman Sachs earlier than planned, they obviously wouldn't be turned away because of the early arrival.Under the contact of Kimura, Goldman Sachs personnel quickly went downstairs and led Jiang Hui and his party to the exclusive meeting room, and the president of Goldman Sachs Island Branch also came to attend the reception ten minutes later.

"From Xiaonei.com to Meituan.com, every Goldman Sachs employee I have come into contact with is an elite. I can always learn new knowledge from communicating with them. I am very glad that I can directly communicate with Goldman Sachs Island Branch today. I hope we Both parties can achieve a satisfactory result."

Jiang Hui took the initiative to hold out his hand and held it with Bilson, and threw a sugar-coated bomb in a moderate manner.

"Jiang, you are the most talented of all the unicorn companies I know. I have studied the situation of the companies under the Guanghui Group, especially the overseas development. Not only in Tianchao, but also under the Guanghui Group. The market share of Xiaonei, Meituan, NICO, POTATO and Twitter in developed countries in Europe and America is also very surprising.”

The bridal sedan chair was carried by everyone, and Bilson was obviously also a master of this skill. After taking Jiang Hui's sugar-coated cannonball, he immediately threw it back again.

However, although Jiang Hui knew that this was a sugar-coated cannonball given by others, it at least proved that Guanghui Group's overseas business development was indeed doing very well.

In the Internet field, the most popular websites should be Google, Twitter, Yahoo, etc. Among them, Twitter, a subsidiary of Guanghui Group, ranks second. This situation is unique in China.

Not to mention the present, even the BAT of later generations has very limited influence in the world market.

For example, Du Niang is rarely used by people except the mainland, and Google occupies an absolute monopoly position; and Alibaba is even more inferior to Amazon outside of China, and is not a heavyweight opponent; even the relatively international Penguin company , and its influence in the global market is also very limited.

Nowhere is it like Guanghui Group, where international companies follow one after another. The most important thing is that they can not only take the route of successful internationalization, but also lead the trend of the times.

"Just last night, the IMF announced that the global subprime mortgage crisis is expected to lose $1929 trillion. In fact, I really want to say that the IMF is too naive. In this crisis that is worse than [-], $[-] trillion It’s nothing, just throwing it inside will cause a wave of waves.”

After Jiang Hui and Bilson exchanged pleasantries for a while, the topic started to go on the right track.

"Jiang, although I also think that the impact of this subprime mortgage crisis will become very far-reaching, compared with the crisis in 1929, I don't think it can be more serious."

From his standpoint and perspective, Bilson’s point of view cannot be said to be wrong. This is basically the point of view of most investors on Wall Street today.

Compared with the crisis that began in 1929, everyone feels that this time is just a small storm.

1929年，美国经济日趋繁荣。美国的工业生产指数在1921年时平均仅为67（1923年至1925年为100），但到1928年7月时已上升到110，到1929年6月时则上升到126。给人印象更为深刻的是美国股票市场的行情。

Industrialists, pedantic economists and government leaders all expressed confidence in the future.Treasury Secretary Andrew Mellon also assured the public in September 1929: "There is now no cause for concern, and this high tide of prosperity will continue."

On October 1929, 10, crowds gathered on Wall Street in New York, and the stock market plummeted that day.The Great Depression in the United States drained the capital that the United States could have invested in Europe.

In the autumn of 1929, the stock market hit its lowest point, and a worldwide economic depression ensued, and the intensity and duration of the depression were unprecedented.One reason for this unintended outcome appears to be the serious international economic imbalance that developed after World War I when the United States became a massive creditor nation.

Britain was already a creditor nation before the war, but it used its income from overseas investments and loans to pay for its long-term superannuation.In contrast, the United States usually runs a trade surplus, and this trade surplus is exacerbated by keeping tariffs high for domestic political reasons.In addition, in the 20s, as many countries paid war debts, money continued to flow into the United States; the gold reserves of the United States increased from 20 billion US dollars to 1913 billion US dollars between 1924 and 19.24, which is 44.99 billion US dollars of the world's total gold reserves. half.

For several years this imbalance was offset by large US loans and investments abroad; between 1925 and 1928, US foreign investment totaled an average of $11 billion a year.Of course, this situation ultimately reinforces the imbalance and cannot continue indefinitely.Certain sectors of the U.S. economy, especially agriculture, were hurt as debtor countries had to reduce their imports of goods from the United States as payments came due.In addition, some feel compelled to default on their arrears, which has shaken certain financial firms in the United States.

The weakness of the U.S. banking industry was the final factor that contributed to the stock market crash of 1929.At that time, there were many independent banks operating, some of which lacked sufficient financial resources to weather the financial turmoil.So when a bank fails, panic spreads and depositors rush to other banks to withdraw their deposits, setting off a chain reaction that destroys the entire financial structure.

Then the American people ushered in "Black Thursday", and the stock market crashed!
The great collapse of the stock market led to the Great Depression that lasted for four years. The economic crisis quickly spread from the United States to other industrial countries.For millions of people, life has become a struggle to eat, wear, and live.In order to safeguard their own interests, various countries have strengthened trade protection measures and means, further exacerbating the deterioration of the world economic situation, which is an important source of the outbreak of the Second World War.

It can be said that the crisis that began in 1929 changed the economic and world structures in the next few decades, and had a major impact on the global political and economic environment throughout the 20th century.

In April 2008, no one would have believed that the impact of the subprime mortgage crisis would be comparable to that of the Great Depression.

From the perspective of future generations, we will find that 2008 was actually an important turning point in the global political and economic environment. After that, the global situation became more turbulent, and the economic situation of various countries ushered in a new situation.

This new situation, some very good, some very bad!

(End of this chapter)